Chicago-based R.J. O’Brien & Associates (RJO), the oldest and largest independent futures brokerage and clearing firm in the United States, and Austin-based Eventus Systems, Inc., a multi-award winning global trade surveillance and market risk software platform provider, today announced that RJO has selected Eventus to provide its global market surveillance and real-time risk monitoring solution.
RJO conducted an extensive international search before choosing Eventus and expects its cloud deployment of the Validus platform to go live on April 1.
In addition to its major presence in the U.S., RJO has offices and clients around the world, operating in multiple regulatory jurisdictions. The Validus software platform features hundreds of pre-built surveillance procedures that clients can tailor to their own standards and to regulatory requirements. It is the only trade surveillance solution to offer both machine learning and a procedural approach in one seamless package to not only reduce false-positive alerts but also foster intelligent issue resolution.
Kathleen Clapper, RJO Senior Director and Chief Compliance Officer, said: “We take our supervision extremely seriously. We were in search of a truly flexible, dynamic platform so we can make adjustments swiftly as new market risks and regulations emerge relating to our global client base. Eventus and its Validus platform really check those boxes for us while also providing a very user-friendly, intuitive interface. The platform’s impressive catalog of surveillance and risk monitoring procedures combined with unique automation tools will enable us to increase both our effectiveness and efficiency in surveillance and risk management. We expect to reduce extraneous alert noise, saving us significant time and letting us focus our attention on where it needs to be. We’ve also been extremely impressed with the customer service, which is paramount for us.”
Eventus CEO Travis Schwab said: “We’re thrilled to bring RJO onboard and look forward to addressing its critical market surveillance and risk monitoring needs globally throughout North America, Europe, the Middle East and Asia. We anticipate that our workflow tools will help the firm deploy its resources most efficiently and gain important insights while meeting new surveillance and monitoring needs as they arise around the globe.”
RJO Chief Risk Officer Brad Giemza said: “For RJO, Eventus solved two supervisory needs with one solution. Validus not only meets our market surveillance requirements but also enhances our ability to monitor real-time order messages in support of automated trading.”
Clapper said that Eventus’ comprehensive view of market risk will provide great transparency into RJO’s global business. In addition, the platform’s coverage of multiple asset classes and its clear focus on specific exchange rules, such as the firm’s Tag 50 monitoring suite of procedures for CME Group’s futures markets, is of particular interest.